Nestled in the heart of the Highveld, Gauteng is the smallest province in South Africa. Comprising only 14% of the nation’s land area, the province contains the highly urbanized and expansive cities of Pretoria and Johannesburg.
Situated in the south western corner of South Africa, the Western Cape is one of the country’s most popular locations and destinations. Boasting the exquisite allure of the Winelands, the Karoo and the splendour of the Garden Route, the province also houses Cape Town – the Mother City – a haven for its culturally practised and tasteful residents.
Also known as the Garden province as a result of its coastal sub-tropical climate, KwaZulu-Natal has always been one of South Africa’s favourite holiday destinations. While the coastline is dotted with picturesque small towns, the province’s interior consists mainly of inspiring and spectacular rolling hills.
The Eastern Cape includes such diverse landscapes – from the arid Karoo to the wet and windy Grahamstown – that any person can find their nirvana here. This province also boasts South Africa’s only snow skiing resort, which is situated in the Southern Drakensberg.
With Bloemfontein as its capital city, the Free State is found in the very heart of South Africa. The lovely climate and fertile land have made the province a thriving agricultural community. The Free State’s chief tourist attraction is the Golden Gate Highlands National Park nestled in the foothills of the breathtaking Maluti Mountains.
Meaning literally “the place where the sun rises”, Mpumalanga is divided into scenic highveld and savannah lowveld. Main attractions in the province include the Kruger National Park, the Sudwala Caves and the Blyde River Canyon.
As the northernmost province in South Africa, Limpopo shares its borders with Botswana on the west, Mozambique on the east and Zimbabwe in the north. Limpopo’s proximity to these African countries has gifted it with the beauty and contrasting landscapes that has made it a favourite among travellers and adventure seekers.
The North West province is a picture of authentic African bushveldt beauty that encourages adventure. From the quiet beauty of the Pilansberg Nature Reserve to the bold decadence of Sun City, the North West offers both culture and comfort.
The Northern Cape is the biggest and most sparsely populated province in South Africa, dominated by the Karoo Basin. This natural gem includes the Kalahari Gemsbok National Park, the Augrabies Falls as well as the famous Namaqualand region.
When buying repossessed property through Absa in a personal capacity, the buyer will not be held liable for payment of transfer duties on the property. An added bonus is that should you finance your new home through Absa Home Loans you will enjoy the benefit of discounted attorney fees. Why not start your search for your dream home today?
Standard Bank lists repossessed and mandated properties for sale via ONLINE AUCTION as well as online offers. Standard Bank will settle all arrears rates and taxes on a property, in addition to paying all rates and taxes due until the date of registration. To make the process even easier on the pocket, there are no transfer duties payable by the buyer when purchasing a repossessed Standard Bank property.
FNB takes the majority of the work out of buying repossessed properties by offering buyers up to 100% bond financing. The buyer will not be liable for any transfer duties, and FNB will furthermore pay any outstanding property rates and taxes up until the date of registration.
List your property for free until it is sold and pay zero commissionList For Free Now!
MyRoof does not charge any commission to sell your property online. What we mean with no commission is exactly that – no fees are ever payable to us at any stage for the FREE listing option. MyRoof makes money by securing bonds for buyers for which the banks pay us a small fee. As we do not charge commission, you can accept a lower offer but still get the same amount of money in your pocket. This will result in more interested buyers in your property.
You may upload as many photos as you wish onto our website. This will help you in selling your property faster. The more photos, the better idea a buyer gets of your property. Remember that photos can give the buyer a desire to own your property! You can also add the best things your property has to offer on the extra notes section. Buyers enjoy looking at the additional notes to make a decision on whether to view the property or not
All privately owned properties on our website have floor plans in the main centers. Just imagine if you were a buyer and could get an idea of the layout of a property even before visiting the home! Not only will the buyer get an idea of how big the property is, but he or she will also get the chance to view the sizes of the individual rooms and see where they might want to add or remove a wall. The buyer will also have the opportunity to compare the sizes and asking prices of different properties per square meter. Lastly, the floor plan gives the prospective buyer a clear understanding of how the property looks as the arrows on the floor plan show from which angle each photo was taken. The buyer now gets a real feel for the property and can immediately see if this is what they were looking for. This means that only serious buyers will make offers on your property.
On top of the unlimited photos and the added floor plan, we also offer you a large client base where alerts are sent out to buyers who are looking for a property like yours. Alerts are sent to prospective buyers who have indicated that they are interested in property in a specific area at a specific price range. Alerts will also be sent out should you lower your asking price or arrange a show day with us. This has been found to work well to communicate with many potential buyers at once. And it also keeps buyers interested in your property!
We will keep your property on our website until the day it is sold – whether this will take a day or a year. MyRoof has hundreds of thousands of property buyers and send out tens of thousands of alerts daily to keep these buyers updated on new properties they might be interested in buying. Don’t worry if you’ve heard that selling your property is difficult because you are in our capable hands – this is what we do, all day, every day. Our system has been proven to work by many satisfied sellers like you – all of this at no cost to you!
MyRoof offers the complete online experience for buyers. How do we do it? With our front page displays, many photos of your property, detailed floor plans, MyRoof For Sale board, MyRoof On Show boards and alerts we send out to our large data base. If you combine this with our world-wide marketing resulting in thousands of online offers on a daily basis, you know your property transaction is in good hands.
When you join MyRoof you immediately have access to all these terrific features:
The debate – whether it is more financially sensible to rent or buy a house – is an ongoing one. South Africa’s current economic condition has created a doorway for many new buyers to enter the property market. Those that could not previously afford to buy property because of the higher listing prices are...read more
According to several sourced reports the majority of distressed properties are listed within the Gauteng area. While indicators have shown that the conditions within the national property market are slowly improving it is obvious that distressed and repossessed properties are still a stark reality within that market. The opinion of experts within the market...read more
Repossessed properties, or ‘Properties in Possession’, comprise such properties that have been bought by the bank after the current owner defaults on the bond that the bank holds. Distressed properties can be classified as such when a homeowner misses home loan repayments to the extent that the holder of the bond, usually the bank, issues...read more
Home buyers and investors in the Western Cape are spoilt for choice – with a veritable buffet of delicious properties available on the market. Geographically, the Western Cape stretches 400 kilometres to the north along the Atlantic coast-line and about 500 kilometres along the Indian Ocean’s coast to the east. Known for its diverse landscapes...read more
Want to buy a repossessed property on auction, but afraid you will not qualify for a home loan? We all know that right now is a good time to invest in property. So, why not save some more money and buy yourself a repossessed property? ...read more
With the South African interest rates at its lowest in 30 years, the property market has become very favourable for young- as well as first-time buyers. Furthermore, they have the added advantage of buying a repossessed property on auction, where they can get their hands onto a property for below market value. ...read more
Do you know the difference between insolvency and bankruptcy? People tend to confuse these two terms. However, they do have different meanings and different purposes. Together, insolvency and bankruptcy form part of a process. ...read more
As you get older, you will need to retire sooner or later. But do you have the adequate back-up in place to retire comfortably? Only a few people in South Africa can afford to retire on their retirement fund only. So, do you have any more ideas on how to retire comfortably? ...read more
The South African Reserve Bank (SARB) made the decision that the repo rate should remain unchanged at 5.5%. The SARB has kept the rates unchanged for 16 months, and it is the lowest in 30 years. This decision leaves the Rand less volatile. ...read more
Both buyers and investors find the idea to buy repossessed property on auction attractive. It is a common fact that repossessed properties are bargain buys. ...read more
Interested in buying a repossessed property on auction, but want to know how to get the best out of the deal? Here is what you can do to make the process go smoother, and what you can expect. ...read more
With the many repossessions taking place in South Africa, the market has reached a point where property has become relatively cheap. This is good news for would-be owners, enabling them to get their hands onto repossessed properties at a good price. ...read more
When buying a repossessed property on auction, you will uncover a great deal that will suit your needs as well as your budget. But how do you go about buying on auction? Here are some handy tips. ...read more
While buying a repossessed property on auction, you might tend to wonder why you need to own a property instead of renting one. Everybody needs to be a homeowner at some point or another. There are many advantages when you own a home instead of renting from another homeowner. ...read more
Believe it or not, but in a recent survey taken by the UK’s “Daily Telegraph”, South Africa was rated as the sixth location where it is safe to invest in property. Keeping in mind that the South African property market is sought after by foreigners, this makes the idea to buy a repossessed property so much more appealing. ...read more
Looking to invest your money in a long-term investment? There is no better time than right now to invest in repossessed property. The worst part of the recession seems to be behind us and the property sector is busy recovering. 2012 looks very promising in terms of property investment, and here are the reasons why: ...read more
The New Year has arrived, and you have set some goals for yourself. One of these goals is to buy yourself a place you can call home. You are somewhat skeptical, thinking that it is more expensive to own your own place than to rent from someone else. This is not necessarily the case, since buying a repossessed property is even more affordable. ...read more
Useful Terms and Terminology Explained ...read more
There are obviously certain things you will need (to get in order) if you are interested in selling bank repossessed properties. Bank repossessed properties …...read more
When money on a home loan has not been repaid, the bank will get a court order to sell the relevant property. This will only be done by the bank when there i…...read more
You can buy repossessed properties at online auctions direct from the bank. The advantage of this is that you can do it from the comfort of your own home. Th…...read more
Except for potentially buying the house for a lot less, there are more reasons for you to buy a bank repossessed property. As buyer you will be relieved from…...read more
A number of honest citizens have lost their property in the struggle due to unemployment or becoming financially unfit to provide the mortgage payments. Many…...read more
The good news when buying a repossessed property is there are no transfer duties payable. Furthermore, property rates and taxes are being paid by the bank u…...read more
However, there are a few things you will need when applying for a home loan. The first thing you need is to decide whether you are going to buy the property …...read more
A very smart way of utilizing the opportunity attached to a repossessed property in distress would be for the investor to place an ad saying that he/she is a…...read more
With the gradual stabilization of the property market, numerous investors are scouting for a diamond in the rough, however, they are soon to discover that th…...read more
Acceptance of an offer: …...read more
Making an offer: …...read more
Repossessed property is considered to be a sensible investment and offers outstanding opportunities for seasoned and would-be investors to bag irresistible d…...read more
Be one hundred percent certain that the property fully belongs to you. Before bidding do your research pertaining to the laws involved with repo property. On…...read more
Before making an offer: …...read more
The first thing you must have in place is an adequate deposit. This will be determined by the price of the property. When you have a deposit in place, do res…...read more
As a result of far fewer mortgages being granted, banks have witnessed their returns reducing along with the reduction in private property and repossessed pr…...read more
The R19bn lent as secure credit, secured mainly against vehicles and furniture, passed Mortgage lending of R18,9bn in the first quarter. The regulator’s late…...read more
It is also easier to acquire a house nowadays due to the low interest rate. Reportedly, first-time buyers are actively involved in buying houses under R600 0…...read more
You are bound to find the perfect property on auction for your needs on www.myroof.co.za. Many unique repossessed properties are listed on this website from …...read more
Expect the need for renovation to arise. It’s no secret that when it comes to repossessed property, we can safely say many of them have indeed seen better da…...read more
Unfortunately property shops really require massive shelves and ridiculously large warehouses. So, hello long hours of driving to property, setting up meetin…...read more
There are some factors that you need to consider when making the decision:…...read more
1. You do not pay the transfer duties. …...read more
Don’t be stubborn, choosing to struggle, and then wind up falling short each time. Go to the bank and ask them to help you restructure your loan. Always reme…...read more
You’ll have to push your sleeves up high and dig though, because bank repossessed properties are becoming harder and harder to find. This is because recently…...read more
No matter what happens with South Africa’s economy or how bad a recession is, property still is a good investment. Over a long period of time the value of a …...read more
There is a definite increase in the market activity. This means that property is being sold more frequently than a while ago. Furthermore, the interest rates…...read more
The auctioning of bank repossessed property is becoming increasingly popular; although it the practice is still relatively unknown enough to ensure you won’t…...read more
Further fall in prices are always a possibility with the credit flow that remains limited and the global economy that struggles from to recover from the rece…...read more
1. Character – this entails your willingness to repay your debt. Financial institutions will look at these, which is obtainable from your ITC status.…...read more
An Offer to Purchase is an agreement containing the terms and conditions for transactions on a property. An agreement between the buyer and seller needs to b…...read more
1. Property prices will keep on rising. This means that if you invest in property while the prices are favourable, you will get a good turnover at the end of…...read more
A property is normally repossessed when the current owner fails to pay his or her loan payments of regularly. The bank then has its lawyers obtain a court or…...read more
Perhaps you have heard of it a thousand times and never once stopped to consider that it may work for you. The good news is that it’s become quite the trend …...read more
Begin by setting goals for yourself. You need to decide what you want to achieve, how you want to achieve it and by when you want to achieve it. …...read more
According to the Business Dictionary, a distressed property can be defined as “Property that is under a foreclosure order or is advertised for sale by its mo…...read more
South Africa’s residential property price growth is slowing down. Due to the economical recovery, property prices are remaining reasonably stable, while the …...read more
“Good debt” has to do with the purchase of items which have an ongoing resale value, thus escalating in value. This can be considered an investment. A prope…...read more
This is the main reason why bank repossessed property is such a popular buying option as it’s cheaper for the first-time buyer or someone running a bit low i…...read more
1) Is your location an asset? …...read more
1. Search…...read more
MyRoof introduced online auctions to specifically comply with the Consumer Protection Act (CPA), whereby a specified end date and -time for each auction is i…...read more
Making your own arrangements is quite simple. You need to be logged onto the MyRoof website to get the owner’s contact details. After you have logged in, fin…...read more
* The first part of buying a repossessed property involves selecting a property you wish to purchase. Simply go online and register with a sound property lis…...read more
Some advantages in investing in property include:…...read more
When should an offer be made? …...read more
Banks don’t have that many options when they repossess a property, so the best way for them to cover their losses and get rid of the liability as soon as pos…...read more
2. You have to be logged in to make an online offer. A box on the left-hand side of the Myroof.co.za site will show whether you are logged in or not. …...read more
There is no need for you to visit property after property, since it can be viewed online. This will save you much time and effort. Furthermore, these propert…...read more
Auctions are plenty of fun and can either get in on the action or simply be a spectator. No matter what you choose, always keep the following few things in m…...read more
All of this may seem a bit confusing so let’s discuss what it all means. When looking at buying a repossessed property for capital gains it simply refers to …...read more
This online service offers a database of foreclosed homes across the land along with the crucial details a purchaser desires to know. You little investment i…...read more
Since insurers keep numbers on claims, they are best placed to advise the most common reasons for claims not being paid, says Gari Dombo, the managing direct…...read more
Budget, budget, budget! – ensure that you have a proper budget in place each month. Make sure there is a financial buffer in place for incase the interest ra…...read more
Try to get a pre-qualified mortgage before looking at homes. This will take the additional stress off you in obtaining a mortgage. It will also give you a cl…...read more
Bank repossessed property can begin to become really expensive to maintain. The more bank repossessed property a bank has, the higher its maintenance costs, …...read more
A good example of the benefits would be to look at a situation where a person is merely looking for a house of their own but due to a tight budget can’t affo…...read more
Bank repossessed property sold at these auctions normally goes for 30% to 50% less than the market price. So a first-time buyer can get a few steps higher wi…...read more
You may very well get a bargain however, be prepared to find the answers to some of your own questions. Remember there is legal work involved and the related…...read more
First of all, you need to determine exactly what your needs are, and take your budget into account. It does not help looking at houses that either does not s…...read more